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Going through the presentation there is a glimmer of hope for better results in the next year. Market in nz should be better ....there are signs that building and construction is going to be positive ....even outside Chch ...... Aust might just hang in there .....and we'll the rest of the world get any worse for mvn.
Maybe they sold a good story to the analysts ....and soe saving a dabble
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With FBU share rise... What are the opinions on MVN?
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Have to rise I reckon, Milford have recently increased holding, as a long shot FBU could gobble them up? I do hold shares.
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Originally Posted by SparkyTheClown
Been a lot of warning signals.
Methven have in the past have talked the talk,but never been able to walk the walk.!
[hope I got that right?]
A long time ago I pointed out Rick Fella failed to return my phone call.I said at the time that was bad business practice.
Sorry to see Milford get it wrong,but they are not the only ones,as I think there are other intos on MVN's registry.
Again thanks to winner69 for his great posts that have kept us away from this underperformer.
Last edited by percy; 09-04-2013 at 07:10 PM.
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Underperformer ? Depends what you are looking at I suppose..lOOK AT THE DIVIDEND YIELDS LAST 5 YEARS.
Five Year Summary
|
2012
$000 |
2011
$000 |
2010
$000 |
2009
$000 |
2008
$000 |
Financial performance |
|
|
|
|
|
Group operating revenue |
106,202 |
122,087 |
129,822 |
137,321 |
114,759 |
EBITDA |
13,8801 |
12,4211 |
16,6622 |
19,752 |
18,927 |
Net profit after tax |
6,462 |
4,749 |
7,820 |
10,056 |
9,757 |
Financial position |
|
|
|
|
|
Total equity |
48,211 |
50,547 |
53,309 |
58,008 |
54,931 |
Total assets |
90,244 |
99,999 |
100,958 |
119,564 |
11,9092 |
Intangible assets |
35,708 |
38,315 |
38,306 |
45,932 |
46756 |
Net (debt) / cash |
-11,746 |
-19,074 |
-17,446 |
-26,840 |
-32,596 |
Capital expenditure |
3,651 |
3,659 |
2,209 |
2,611 |
4,313 |
Equity ratio |
80.4% |
72.6% |
75.3% |
68.4% |
60.1% |
Shareholder statistics |
|
|
|
|
|
Number of shares |
66,606,265 |
66,606,265 |
66,606,265 |
66,606,265 |
66,606,265 |
Dividend per share |
10.00c |
10.00c |
11.00c |
11.75c |
11.70c |
Share price at year end |
$1.09 |
$1.56 |
$1.58 |
$1.20 |
$1.42 |
Earnings per share |
9.70c |
7.13c |
11.70c |
15.10c |
18.30c |
Net dividend yield |
9.20% |
6.40% |
7.00% |
9.80% |
8.20% |
Gross dividend yield |
11.30% |
8.30% |
9.90% |
14.30% |
12.20% |
Net tangible asset value per share |
18.77c |
18.36c |
22.50c |
18.10c |
12.30c |
Originally Posted by percy
Been a lot of warning signals.
Methven have in the past have talked the talk,but never been able to walk the walk.!
[hope I got that right?]
A long time ago I pointed out Rick Fella failed to return my phone call.I said at the time that was bad business practice.
Sorry to see Milford get it wrong,but they are not the only ones,as I think there are other intos on MVN's registry.
Again thanks to winner69 for his great posts that have kept us away from this underperformer.
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Member
Even though the current yields are higher than they were when dividend payouts were 15% higher? Gotta look at the capital value bud. The TSR there is about 6% over 4 years, annual compound growth you could just about get from Jap bank deposits.. Yes, this is an under-performer.
Originally Posted by BIRMANBOY
Underperformer ? Depends what you are looking at I suppose..lOOK AT THE DIVIDEND YIELDS LAST 5 YEARS.
Five Year Summary |
2012
$000 |
2011
$000 |
2010
$000 |
2009
$000 |
2008
$000 |
Financial performance |
|
|
|
|
|
Group operating revenue |
106,202 |
122,087 |
129,822 |
137,321 |
114,759 |
EBITDA |
13,8801 |
12,4211 |
16,6622 |
19,752 |
18,927 |
Net profit after tax |
6,462 |
4,749 |
7,820 |
10,056 |
9,757 |
Financial position |
|
|
|
|
|
Total equity |
48,211 |
50,547 |
53,309 |
58,008 |
54,931 |
Total assets |
90,244 |
99,999 |
100,958 |
119,564 |
11,9092 |
Intangible assets |
35,708 |
38,315 |
38,306 |
45,932 |
46756 |
Net (debt) / cash |
-11,746 |
-19,074 |
-17,446 |
-26,840 |
-32,596 |
Capital expenditure |
3,651 |
3,659 |
2,209 |
2,611 |
4,313 |
Equity ratio |
80.4% |
72.6% |
75.3% |
68.4% |
60.1% |
Shareholder statistics |
|
|
|
|
|
Number of shares |
66,606,265 |
66,606,265 |
66,606,265 |
66,606,265 |
66,606,265 |
Dividend per share |
10.00c |
10.00c |
11.00c |
11.75c |
11.70c |
Share price at year end |
$1.09 |
$1.56 |
$1.58 |
$1.20 |
$1.42 |
Earnings per share |
9.70c |
7.13c |
11.70c |
15.10c |
18.30c |
Net dividend yield |
9.20% |
6.40% |
7.00% |
9.80% |
8.20% |
Gross dividend yield |
11.30% |
8.30% |
9.90% |
14.30% |
12.20% |
Net tangible asset value per share |
18.77c |
18.36c |
22.50c |
18.10c |
12.30c |
Last edited by buns; 09-04-2013 at 09:10 PM.
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The business is and has been a poor performer for years.
Nothing special about it.
Tap manufacturers are two a penny.
The balance sheet is very "heavy" with intangible assets.I think they are worthless,so equity ratio is very poor,with debt rising all the time.The bank will most probably put a stop to dividend payments.
Be prepared for a cash issue sometime.
Get out while you can.
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Do not agree at all..I'm interested in what it pays into my bank a/c every year and that is well over most other shares on the nzx. If you are after growth in share price thats a different matter. This was referred to as an underperformer so please do it the courtesy of being accurate and specifying what it was and where it was underperforming. Clearly it is NOT underperforming when you look at it as a dividend producer.
Originally Posted by buns
Even though the current yields are higher than they were when dividend payouts were 15% higher? Gotta look at the capital value bud. The TSR there is about 6% over 4 years, annual compound growth you could just about get from Jap bank deposits.. Yes, this is an under-performer.
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By your definition maybe..by mine no. Successfull businesses dont have to be "special" .they just have to do the business. Intangibles dropping each year. The fact that you think they are worthless is probably not supported by accountants who prepare the reports. Debt is decreasing. Your view of what the bank may or not do is purely speculative. Companies should be looked at from all possible perspectives and not just from a viewpoint of some particular bias.
Originally Posted by percy
The business is and has been a poor performer for years.
Nothing special about it.
Tap manufacturers are two a penny.
The balance sheet is very "heavy" with intangible assets.I think they are worthless,so equity ratio is very poor,with debt rising all the time.The bank will most probably put a stop to dividend payments.
Be prepared for a cash issue sometime.
Get out while you can.
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